Toyota Industries Corporation (TICO) has once again earned the praise of global business leaders as a member of Fortune magazine's 'Most Admired' list.
The world leader in materials handling equipment, TICO is ranked number 31 in this year's Fortune list of the world's 50 most admired companies. Toyota Motor Corporation is ranked third in the same list.
TICO has five key business units: automobiles, materials handling equipment, logistics, textile machinery and 'others'. In the 2008 Fortune ranking, TICO was listed as the second most admired producer of motor vehicle parts.
A Fortune Global 500 company, TICO employs more than 36,000 people worldwide, including more than 16,000 people in its materials handling operations.
TICO's materials handling activities are concentrated within the Toyota Material Handling Group (TMHG). Toyota Material Handing Europe (TMHE) is the European regional organisation of TMHG and began operations in 2006 to manage the Toyota and BT materials handling business in Europe.
In fiscal year 2007, TICO reported net sales of €12.7 billion, including €5.2 billion for its materials handling operations. Net sales for TMHE in FY 2007 were approximately €1.6 billion.
The Fortune Most Admired list is seen by many as the definitive report on corporate reputations, with business leaders asked to name the companies that they admire the most, both in their own sector and in other business areas. The results are compiled into a global all-star list and 26 industry sector lists.
Survey respondents are asked to rank companies in their industry in terms of nine different categories, including financial soundness, social responsibility and people management. For the industry category 'Motor vehicle parts', TICO received the top ranking in terms of social responsibility, financial soundness and long-term investment and finished second in the areas of people management and use of corporate assets.
Andrew Elliot, TMHE Executive Vice President Marketing, said: “We are honoured that Toyota Industries Corporation has once again been recognised by top companies and Fortune magazine as one of the world's leading businesses. I would particularly like to recognise the dedicated efforts of our employees across Europe who have contributed to the overall success of our company. We will continue to work hard to provide our customers in Europe with the world-class products and services that they expect from Toyota Material Handling.”